Tarun Jotwani, most senior foreign exec at Japan’s Nomura, quits

The most senior foreign executive at Japanese bank Nomura has resigned, the company confirmed Wednesday, as the firm struggles to compete on the world stage.

Jasjit Bhattal, the head of Nomuras wholesale division, handed in his notice after being unable to galvanise support for a more radical shake-up of the banks global operations, the Wall Street Journal had reported.Nomura, in common with investment banks around the world, has struggled with yo-yoing stock and bond prices, poor merger prospects and tightening regulation in the wake of the global financial crisis.